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ProShares Ultra DJ-UBS Crude Oil Crosses Below its 10-day MA (UCO)

By Nick Russo

Today, shares of ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) have fallen below their 10-day MA of $46.75 on a volume of 1.5 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of ProShares Ultra DJ-UBS Crude Oil have traded between a low of $8.87 and a high of $200.85 and are now at $45.96, which is 418% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has slid 3.7%.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra DJ-UBS Crude Oil on May 20th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.33. Since that recommendation, shares of ProShares Ultra DJ-UBS Crude Oil have risen 3.8%. We continue to monitor UCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses proshares ultra dj-ubs crude oil

Ticker(s): UCO